Month: May 2016

It always amazes me how many agents have a hard time differentiating themselves from one another and their ability to answer the question

“Why you? What makes you different from the rest?”.

The consumers believe all real estate brokerages and all agents are the same like a commodity and it all boils down to our professions inability to convey its value proposition. Knowing what separates you from the pack is vital to your success but even more important is understanding the consumer and knowing what they need, what they value and what they want would give you that edge in the market. So let’s have a look at what the top things a real estate buyer and seller want and how we can communicate our offering to them and set us apart from the pack.

Top Things Seller’s Want:

#1 Access to real estate data. More importantly the active listing inventory and the historical sold data. The demand for data is so high that an average North American searches on average eleven different websites for data and believing they will find something different than the last website they were searching. Make sure you are promoting and offering data to as many consumers as you can.

#2 Seller’s would like to look at or receive a pre listing package and have the ability to educate themselves with the process, the changes in the marketing of their homes today and more. Here are some categories for you as an agent to create and make readily available a seller’s pre listing package.

#3 They want to know the process and system for pricing their homes (Comparison, Cost, Depreciation, Cash Flow ) They also want to see all the different ways a home is marketed in today’s economy. So having a report or way of explaining your pricing system and marketing plan for a seller’s home and making it available to them is key.

#4 There are so many moving parts to selling a home and so many different people and service providers involved in selling their home. Knowing what all the moving parts are, the timing and who the different people and service providers are is so important to the seller. Showing them how we act as their transaction coordinator and make this all come together for them is a huge value add and separates us again from the pack.

#5 Every seller wants to know what the common pitfalls are to selling their home but more importantly how you assist in ensuring there are no surprises, mistakes and eliminate their stress of this whole experience. Again promoting these common pitfalls and mistakes and how you help avoid them sets us apart from the rest.

#6 Every seller wants to be shown not told how we communicate and maintain high touch, high care and attention from the pre, during and post process of selling. The biggest complaint the consumer has is the real estate professions lack of communication and our “list it and leave them” reputation precedes us. Have a seller advisement system which includes high touch, care and communication and share it with them and stand out from the rest.

Top Things Buyer’s Want:

#1 Access to real estate data but even more important the access to the deals and to the inventory that isn’t in the MLS system. Stand out from the rest by offering access to sleeve listings, distress sales, expired listings, FSBO, shadow inventory and offer to go find it for them by door knocking and direct mail efforts.

#2 Buyers would like to receive a pre buyer package similar to seller’s package but add these:

A) The Buying Process
B) How you save buyer’s time, money and stress
C) What they need available at the buying appointment
D) VIP buyer services like number 1 above.

#3 They want to know all the steps in the buying process and your system for buying a home and the negotiating strategies you provide to save them money. So having a report or way of explaining your buyer system and negotiating strategies for a buyer and making it available to them is key.

#4 There are so many moving parts to buying a home and so many different people and service providers involved in buying their home. Knowing what all the moving parts are, the timing and who the different people and service providers are is so important to the buyer. Showing them how we navigate the buyer as their transaction coordinator and make this all come together for them is a huge value add and separates us again from the pack.

#5 Every buyer wants to know what the common pitfalls are to buying their home but more importantly how you assist in ensuring there are no surprises, mistakes and eliminate their stress of this whole experience. Again promoting these common pitfalls and mistakes and how you help avoid them sets us apart from the rest.

#6 Like the seller’s, every buyer wants to be shown not told how we communicate and maintain high touch, high care and attention from the pre, during and post process of buying. The biggest complaint the consumer has is the real estate professions lack of communication and follow up with buyers. Have a buyer advisement system which includes high touch, care and communication and share it with them and stand out from the rest.

There you have it, the top six things that a buyer and seller want and now go give it to them. Promoting these offerings will allow you to stand out from all the other agents in your market and add value to the consumers and allow you to attract and pull people to you and your real estate business versus every other agent pushing people to them and their business. You know what they want, value and need, now creatively find a way to give it to them and begin to pull away from the herd and take your business to another level!!

One of the most important skills of sales in real estate is “The Close” It is about the actions you take to gain the agreement of the sale. My favorite line as has always been the line “they couldn’t close a jar of mayonnaise.”

There are many different closing techniques in sales, which are certain steps salespeople take to persuade the customer to make the necessary commitment. Closing should be easy and natural. Before the close you should probe with questions to uncover their challenges and fears to know what solutions you can offer. Here are some of the classic and best sales closes to take your skills to another level.

Affordable Close. Ensure people can afford what you are selling: “We’ve talked about the cost-benefit ratio, so let’s go ahead with the paperwork..”

1-2-3 Close. Close with the principle of three: “It comes in green, red, or black; which one would you like?”

Alternative Choice Close. Offer a limited set of choices: “Would you like the stand-alone model or the built-in system?”

Assumptive Close. Act as if the client is ready to decide: “I take it we can go ahead now?”

Balance-Sheet Close. Add up the pros and the cons: “We’ve weighed the pros and cons, and this will definitely improve your bottom line—when do you want it installed?”

Best-Time Close. Emphasize that now is the best time to buy: “This is an excellent time to use this system, so let’s get started with the paperwork.”

Bonus Close. Offer an incentive to clinch the deal: “And if you purchase today, you also get the additional guarantee; here are the forms.”

Middle Close. Make three offers—with the target in the middle: “We’ve got three choices—the larger one is most likely too much for your needs, and the smaller one doesn’t give you everything you asked for; the middle one, however, is exactly the right solution, so let’s go ahead with the paperwork.”

Calendar Close. Put it in the diary: “Okay we can get this installed early next week.”

Companion Close. Sell to the person with the client: “I know you’ve been paying close attention to the conversation; if you agree this is the right solution we can get the paperwork started today.”

Compliment Close. Flatter the client into submission: “I like the way you think and this seems the best solution for your needs; let’s get the paperwork handled.”

Concession Close. Give the client a concession in exchange for the close: “I really think this will work best for you, and we can reduce the delivery cost by 20 percent by putting the order in today.”

Conditional Close. Link closure to resolving objections: “It looks like we resolved all the issues you talked about; shall we get the paperwork handled now?”

Demonstration Close. Show the client the goods: “I’d like to show you how this works and then if you like it, we can go ahead with the agreement.”

Economic Close. Help the client pay less for your product or service: “I think if we put this order through today, we can still get the discounted rate.”

Emotion Close. Trigger identified emotions: “Sounds like this is something that will really help everyone feel more secure. Let’s go ahead with the paperwork.”

Golden Bridge Close. Make the only option attractive: “Everyone who has this system agrees with your analysis; it’s the best on the market. All we have to do is complete this form.”

Humor Close. Relax the client with humor: “I think you’ve come up with more benefits for the product than I have. Shall we go ahead and complete the paperwork?”

Hurry Close. Go fast to stop the client from thinking too much: “Looks like we’ve covered everything you need; all we have to do now is decide on delivery dates.”

No-Hassle Close. Make it as easy as possible: “We’ve done the hard part—making the decision; now all we have to do is complete the paperwork.”

Now-or-Never Close. Hurry things up: “We only have a few more in stock, so let’s get the paperwork started.”

Ownership Close. Act as if the client owns what you are selling: “When you take delivery, you’ll wonder how you survived without it.”

Quality Close. Sell on quality, not on price: “Everyone who has purchased this system says it’s the very best on the market.”

Repetition Close. Repeat a closing action several times: “To summarize, you’ve agreed on the style, the size, and the color, so let’s handle the paperwork.”

Retrial Close. Go back to square one: “I know you said you’re first objective was productivity and we agreed it will increase by up to 250 percent with this product, so let’s set some key installation dates.”

Selective-Deafness Close. Respond only to what you want to hear: “From what I hear you saying, you want this delivered as soon as possible; how does next week sound?”

Standing-Room-Only Close. Show how others are queuing up to buy: “It’s been a real winner so let’s get you on the delivery schedule as soon as possible.”

Summary Close. Describe all the extras the client is going to receive: “With this you will also receive guarantees, warranties, and free installation; here’s the agreement we need to complete.”

Testimonial Close. Use a happy customer to convince the new customer: “You can talk to anyone in the industry and they’ll tell you it’s amazing. The only question left is deciding on a delivery date.”

Trial Close. See if the client is ready for a close:. “If we can guarantee all the figures we discussed, are you ready to go ahead today?”

Ultimatum Close. Show negative consequences of not buying: “I’d hate to see you miss this opportunity; shall we just get the agreement covered?”

Yes-Set Close. Get the client saying “yes” and the client will keep saying “yes”: “I know you said yes to the benefits and yes to the solution; all we need now is a yes on the terms.”

As you can see, the list of closing techniques is almost endless, and all it really takes is for you to ask for the order. Go into the call expecting to close on something. Commit the client to do something, to take some action.

There’s a saying that you sell on the tangibles and you close on the intangibles. In other words, when it comes to the close, if you have helped the customers feel they can trust you, if you have asked the right questions, then the only way to go is to buy from you. So use the oldies and goodies in terms of closing techniques and then remember when you sell from your heart, you are not really closing the sale, you are opening an amazing solution for your client.